Investors being sought for Wirral Waters homes

The property firm Peel is looking for development and investment partners to help it provide 23,500 new homes in Liverpool and on the Wirral.

It will be necessary to spend about £3.5bn to deliver these new houses, so investment cash is essential. The plan is to build a series of high-rise and medium height residential blocks on both sides of the River Mersey.

Outline planning consent has already been granted for the regeneration of 500 acres of derelict dockland in the Birkenhead area. This new development area is called Wirral Waters. Some construction work has already taken place there. In 2015, the Wirral Met College campus was opened, but no new housing has been built there yet.

However, 13,500 homes are planned for the development, which means that Wirral architects will be kept busy designing these new houses. The other 10,000 new residential properties are planned for the sister site – Liverpool Waters.

Neil Baumber, who is Peel’s Director of Residential Development, explained to a Liverpool Echo reporter why these developments are so vital for the area. He said:

“This is all about regenerating urban areas, where there is a shortage of housing, into attractive waterfront locations where young professionals, families, downsizers and key workers can live. These units will be a mixture of tenure from institutional and individual PRS to open market sale.”

A recent study carried out by the Home Builders Federation showed that 600 homes had to be built every year in the Liverpool area to avoid a housing crisis.